WH - WSP Holdings Ltd (NYSE)

[lovemoney]

Making a move. Could setup to break prev high in a few days. Resistance at $3.40 100ma. Indicators look ready.

WH - SharpCharts Workbench - StockCharts.com

WSP Holdings Ltd.
No 38 Zhujiang Road
Xinqu
Wuxi,
China - Map
Phone: 86 510 8536 0632
Fax: 86 510 8522 6351
Web Site: WSP HOLDINGS LIMITED

DETAILS
Index Membership: N/A
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services
Full Time Employees: 4,414

BUSINESS SUMMARY
WSP Holdings Limited, through its subsidiaries, manufactures oil country tubular goods products. It offers casing, tubing, and drill pipes for oil and natural gas exploration, drilling, and extraction activities, as well as line pipes and green pipes. The company also provides American Petroleum Institute (API) products, which are products manufactured according to the standards formulated by the API; and non-API products, which are products tailor-made to meet customers’ specifications. It serves oilfields in North America, the Middle East, Asia, Africa, and the Russian Federation through distributors. WSP Holdings Limited was founded in 1999 and is headquartered in Wuxi, the People’s Republic of China.

[BadThad]

Really, this is a great find. We will most certainly see some upward movement as they are buying back a significant number of shares.

WSP Holdings Limited Approves Share Repurchase Plan
Wednesday, 25 Nov 2009 08:00am EST
WSP Holdings Limited announced that its Board of Directors has approved a share repurchase program. Under the program, WSP Holdings is authorized to repurchase up to $10 million of outstanding American Depositary Shares (ADSs), each representing two ordinary shares of the Company, from time to time over the next six months. The share repurchase will be made in the open market or through privately negotiated transactions. This plan does not obligate the Company to acquire any particular number of ADSs and the program may be suspended or discontinued at any time.

Current stock price: $3.13

[BadThad]

Oh my! This is REALLY a jewel you dug up here Lovemoney! $0.375 total dividend coming on a $3 stock!

WSP Holdings Limited Announces Cash Dividends
Monday, 16 Mar 2009 07:00am EDT
WSP Holdings Limited announced that its Board of Directors declared an ordinary cash dividend in the amount of $0.15 per ordinary share, or $0.30 per ADS, and an one time special cash dividend in the amount of $0.225 per ordinary share, or $0.45 per ADS, out of WSP's annual profits for the years ended December 31, 2007 and 2008. The ordinary cash dividend is payable on April 6, 2009 to shareholders of record at the close of business on March 30, 2009. The special cash dividend is payable on July 6, 2009 to shareholders of record at the close of business on June 30, 2009. - - - - - (repeated)

[BadThad]

Alright, I think I'm going to buy some of this stock tomorrow.

Because WH is in the Oil Well Services & Equipment industry and has positive earnings, the PEG, PE, and Price to Book ratios are the most appropriate valuation measures. The Price to Sales ratio is less instructive than the PEG or PE since the company has positive earnings. Therefore WH seems inexpensive with a PEG value of 1.2848, below the Oil Well Services & Equipment industry median PEG of 1.45, however their PE is only 6.4242, among the lowest in the industry.

Volume is having spikes, indicative of them buying shares:

VOLUME 433.4k shares, +86.5% compared to
typical volume of 232.4k by 4:00 pm ET

Next resistance at $3.34 and then at $4. What else looks good is bottom support at $2.93.

[lovemoney]

Thanks for the additional DD BadThad. Hoping this will start some good movement up.

[BadThad]

Thanks for the post! I'm in at $3.18 this morning! I think this will be a nice little play. I'm planning on getting out ASAP, that might involve waiting for the dividends....let's just see what happens.

[BadThad]

....my mistake on the divy!

[supapowa]

Am I missing something for the dividends? it says the payout was for summer of 09?

[BadThad]

Originally Posted by supapowa

Am I missing something for the dividends? it says the payout was for summer of 09?

DOH! You are correct....my mistake. This is OLD, I'm still living in last year.

[BadThad]

Wow....the volume REALLY sucks on this stock.